New Rule: Many rules related to banking and other sectors including India Post are going to change from tomorrow i.e. August 1 across the country. Its effect will also be seen on your day-to-day banking operations. While people paying EMI and getting salary-pension will get the benefit, those who use ATMs to withdraw money most of the times, now doing so will become costly from August 1.
These rules are being implemented from tomorrow due to changes in banking rules by Reserve Bank of India (RBI) and updates from other banks. Let us know what are these changes and how will they affect you.
Now salary will be transferred even on holidays
From tomorrow i.e. August 1, the system of National Automated Clearing House (NACH) will be available seven days a week. NACH is a bulk payment system used by banks through which salary and pension are transferred. Along with salary, EMI, bill payment and loan payment etc. are also done through this. Till now, salary-pension etc. were not paid on holidays and these facilities are available only on working days of banks. However, after the new amendment of RBI, now salary and pension will come in your account even on the day of the holiday.
ATM interchange fee will increase
If you withdraw money from any other bank’s ATM with your debit or credit card, then for this you will have to pay more than August 1. The Reserve Bank of India (RBI) has allowed all banks to increase their interchange charges from August 1. At present, banks charge Rs 15 as interchange charge for every financial transaction. Now with an increase of Rs 2 from August 1, this charge will be Rs 17. On the other hand, if we talk about non-financial transactions, then at present an interchange charge of Rs 5 has to be paid on it, which will now be Rs 6 from August 1.
According to the revised rules of RBI, customers can do five free transactions every month from their bank’s ATM. At the same time, customers can do three free ATM transactions in metro cities and five in non-metro cities from ATMs of other banks. After this you will have to pay additional charges for every transaction.
India Post’s doorstep service will be charged
From August 1, if you use the doorstep service of India Post Payment Bank (IPPB) of the Department of Posts, then you will have to pay an additional fee for this. IPPB currently does not charge any fee from customers using its doorstep service. However, from tomorrow you will have to pay Rs 20 plus GST per service for using it.
LPG prices may change
According to the rules, there is a change in the prices of LPG cylinders across the country on the 1st of every month. Talking about the last few days, in April, the price of LPG cylinder was cut by Rs 10. After this, there was no change in the prices of domestic cylinders in May-June. In the last month i.e. July, their prices were increased by Rs 25.
ICICI Many services of the bank will be expensive
You will have to pay more charges than yesterday for using many services of India’s leading private bank ICICI. ATM interchange fee and check book charges for savings account holders will increase from tomorrow. Along with this, the bank will give the facility of four free transactions to its customers. After which you will have to pay a fee of Rs 150 per transaction.
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